How long does a bank remember bad debt?

Willing2Learn

eskbanker wrote: »

Where did you find the data retention policy that you quoted, is it in some Ts & Cs perhaps?

I found the policy document on the NatWest website. https://personal.natwest.com/content/dam/natwest_com/Global/Privacy%20policy/NW-privacy-notice.pdf

I only found it this morning and have not had a chance to read fully. I have only skimmed and scanned thus far

eskbanker

Willing2Learn wrote: »

I found the policy document on the NatWest website. https://personal.natwest.com/content/dam/natwest_com/Global/Privacy%20policy/NW-privacy-notice.pdf

I only found it this morning and have not had a chance to read fully. I have only skimmed and scanned thus far

I suspect that they'll rely on the extensive list of purposes defined in Schedule A to justify ongoing data retention for defaulters, and in particular within section C (Legitimate interests of the bank):

c) It is in our interest as a business to manage our risk and to determine what products and services we can offer and the terms of those products and services. It is also in our interest to protect our business by preventing financial crime. This may include processing your information to:
(i) carry out financial, credit and insurance risk assessments;
(ii) manage and take decisions about your accounts;
(iii) carry out checks (in addition to statutory requirements) on customers and potential customers, business partners and associated persons, including performing adverse media checks, screening against external databases and sanctions lists and establishing connections to politically exposed persons;
(iv) share data with credit reference, fraud prevention agencies and law enforcement agencies;
(v) trace debtors and recovering outstanding debt;
(vi) for risk reporting and risk management.

Table A clarifies that you can object to their processing but that they can challenge this:

You have a right to object to us processing your personal information (and to request us to restrict processing) for the purposes described in Section C of Schedule A – Purposes of Processing (below), unless we can demonstrate compelling and legitimate grounds for the processing, which may override your own interests, or where we need to process your information to investigate and protect us or others from legal claims.

EarthBoy

Willing2Learn wrote: »

My interpretation is lawful and is something that I intend to prove to NatWest. Besides, I enjoy the challenge

You'll probably have to take them to court then, because it's ultimately up to the courts to decide how the law is to be correctly interpreted and whether the bank's procedures comply with the law or not.

Anyway, you don't really care how long NatWest keep your details, you're just annoyed that you can't get a free £150 out of them. You're only guessing that they won't accept you as a customer because of your previous debt. They haven't actually said that's the reason, it's only because you can't think of anything else. If a bank declines your application they are under no obligation to explain why, so even in the unlikely event that you got them to change their policy and forget your previous debt, they could still refuse your custom.

eskbanker

EarthBoy wrote: »

You'll probably have to take them to court then, because it's ultimately up to the courts to decide how the law is to be correctly interpreted and whether the bank's procedures comply with the law or not.

It may not be necessary to go to court now that the ICO has greater enforcement powers: https://ico.org.uk/action-weve-taken/

However, as you rightly point out, any victory would probably be a Pyrrhic one in any case when there would still be no obligation on NatWest to accept an application....

Willing2Learn

EarthBoy wrote: »

You'll probably have to take them to court then, because it's ultimately up to the courts to decide how the law is to be correctly interpreted and whether the bank's procedures comply with the law or not.

I definitely will not be going to court as that would be way too much effort. I just intend to use NatWest policy and potentially ICO enforcement (if I can find the necessary data to support my case).

Interestingly, I made an application to RBS for their £150 switch incentive. This time there was a credit search (none for NatWest). The application did not fail on internal checks. This could imply that RBS either has a different policy on data retention, or they have failed to adhere to their own policy.

danthemoneysavingman

I can only agree with Earthboy's 2nd paragraph, having read the thread.

Suggest you just move on!

EarthBoy

Willing2Learn wrote: »

I definitely will not be going to court as that would be way too much effort.

But I thought you were looking forward to it:

Willing2Learn wrote: »

My interpretation is lawful and is something that I intend to prove to NatWest. Besides, I enjoy the challenge

Willing2Learn

EarthBoy wrote: »

But I thought you were looking forward to it:

Oh...but I do enjoy it...but as stated in an earlier post I made...I only feel I have a 40% chance of having my complaint upheld....Unless I can gather the evidence, I would not consider court...Anyway, I believe this can be satisfactorily resolved using the complaint procedure

EarthBoy

Willing2Learn wrote: »

Oh...but I do enjoy it...but as stated in an earlier post I made...I only feel I have a 40% chance of having my complaint upheld....Unless I can gather the evidence, I would not consider court...Anyway, I believe this can be satisfactorily resolved using the complaint procedure

You're contradicting yourself. It sounds like you expect your complaint to be resolved to the bank's satisfaction, not yours, if you think you've only got a 40% chance of success.

bazzyb

Willing2Learn wrote: »

• I am an adult and accept full responsibility for my actions.

In which case, move on and take your business elsewhere rather than try to force somebody to accept you as a customer when they clearly don't want to.